Canaccord Genuity reiterates a 'Buy' on Unit Corp. (UNT); View as Least Expensive Way to Play Strength in U.S. Onshore
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Price: $0.24 --0%
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Unit Corp. (NYSE: UNT) price target of $68.00.
Analyst, John Gerdes, said, "We reiterate our rating as we view Unit as one of the least expensive ways to play strength in onshore US oil/liquids drilling given the stock trades at a ~25% discount to a blended E&P/land group multiple (’12E EBITDA). Additionally, we anticipate another year of solid E&P production growth attributable to higher-margin liquids development in the Oklahoma Marmaton and Anadarko Basin Granite Wash plays. Additionally, Unit has accumulated ~ 30,000 net acres in the horizontal Mississippian play in northern Oklahoma, which could become another material growth driver for the company in ‘12+."
For an analyst ratings summary and ratings history on Unit Corp. click here. For more ratings news on Unit Corp. click here.
Shares of Unit Corp. closed at $43.44 yesterday.
Analyst, John Gerdes, said, "We reiterate our rating as we view Unit as one of the least expensive ways to play strength in onshore US oil/liquids drilling given the stock trades at a ~25% discount to a blended E&P/land group multiple (’12E EBITDA). Additionally, we anticipate another year of solid E&P production growth attributable to higher-margin liquids development in the Oklahoma Marmaton and Anadarko Basin Granite Wash plays. Additionally, Unit has accumulated ~ 30,000 net acres in the horizontal Mississippian play in northern Oklahoma, which could become another material growth driver for the company in ‘12+."
For an analyst ratings summary and ratings history on Unit Corp. click here. For more ratings news on Unit Corp. click here.
Shares of Unit Corp. closed at $43.44 yesterday.
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